UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
SEC FILE NUMBERS
33-75510-01
1-12944
NOTIFICATION OF LATE FILING
CUSIP NUMBER
46623YAA3
(CHECK ONE): [X] Form 10-K and Form 10-KSB
[ ] Form 20-F [ ]Form 11-K
[ ] Form 10-Q and Form 10-QSB
[ ] Form N-SAR
For Period Ended: December 27, 1997
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:_____________________
Read Attached Instruction Sheet Before preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I -- REGISTRANT INFORMATION
JPS AUTOMOTIVE L.P.
JPS AUTOMOTIVE PRODUCTS CORP.
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Full Name of Registrant
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Former Name if Applicable
701 MCCULLOUGH DRIVE
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Address of Principal Executive Office (STREET AND NUMBER)
CHARLOTTE, NORTH CAROLINA 28262
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City, State and Zip Code
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PART II -- RULES 12B-25(B) AND (C)
If the subject report could not be filed without reasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
(a) The reasons described in reasonable detail
in Part III of this form could not be
eliminated without unreasonable effort or
expense;
[X] (b) The subject annual report, semi-annual
report, transition report on Form 10-K, Form
20-F, Form 11-K or Form N-SAR, or portion
thereof, will be filed on or before the
fifteenth calendar day following the
prescribed due date; or the subject
quarterly report or transition report on
Form 10-Q, or portion thereof will be filed
on or before the fifth calendar day
following the prescribed due date; and
(c) The accountant's statement or other exhibit
required by Rule 12b-25(c) has been attached
if applicable.
PART III -- NARRATIVE
State below in reasonable detail the reasons why the Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10- QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed time period. (Attach Extra
Sheets if Needed.)
On December 11, 1996, Collins & Aikman Products Co. ("C&A") acquired
all of the outstanding equity of the Registrants. During 1997 and continuing
into 1998, C&A has been developing plans for the Registrants to rationalize
manufacturing locations, as well as marketing and administrative functions. The
rationalization process involves a number of transactions and planned
transactions having multiple accounting implications. In addition, under the
terms of the indenture governing the Registrants' 11 1/8% Senior Notes due 2001,
an investment banking firm must opine as to the fairness from a financial point
of view of many of these transactions and planned transactions. As part of the
process of obtaining the investment banking firm's opinion, the terms and
conditions of these transactions and planned transactions continued to be
refined and were only very recently finalized. Accounting adjustments based on
the final terms of the transactions continue to be made. The foregoing has
rendered the Registrants unable to file their Form 10-K by March 27, 1998.
PART IV --- OTHER INFORMATION
(1) Name and telephone number of person, to contact in regard to this
notification
John F. Grossbauer (704) 548-2351
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d)
of the Securities Exchange Act of 1934 or Section 30 of the
Investment Company Act of 1940 during the preceding 12 months or for
such shorter period that the registrant was required to file such
reports been filed? If answer is no, identify report(s).
[ X ] Yes [ ]No
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(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in the
subject report or portion thereof?
[ ]Yes [ X ]No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
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JPS AUTOMOTIVE L.P.
JPS AUTOMOTIVE PRODUCTS CORP.
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(Name of Registrants as Specified in Charter)
have caused this notification to be signed on their behalf by the undersigned
hereunto duly authorized.
JPS Automotive Products Corp. JPS Automotive L.P.
By: PACJ, Inc.,
its general partner
March 27, 1998 By: /s/ J. Michael Stepp By: /s/ J. Michael Stepp
- -------------------- ------------------------------------ -----------------------
Date J. Michael Stepp J. Michael Stepp
Executive Vice President Executive Vice President
& Chief Financial Officer & Chief Financial Officer
INSTRUCTIONS: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
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